Entrepreneurship is certainly not an easy path and it throws myriad challenges on your face at each and every step. Right from the idea generation to execution to juggling with legalities and regulations, the list of challenges are endless. Considering these facts, it is not easy to get started on this journey without an expert help or assistance. So, how do we move ahead and find this help? The answer is INCUBATION. Check here the details of incubation and its benefits!
2. The startup scene in India is on a rise like
never before.
● In order to build a solid and
sustainable business foundation, one
needs expert guidance and hand
holding. In the start up world we call
them incubators and the process is
called INCUBATION
● Incubators serve as a great platform
for that much-needed support and a
push to build a solid foundation & have
an answer to your initial problems
THE START UP SCENE IN INDIA
3. 3
WHO ARE INCUBATORS ?
Business incubators are assistance programs
that provide entrepreneurs with a conducive,
cost-effective start-up environment and a
plethora of required services.
“An incubator usually houses about a dozen
tenants, who stay two to three years, then
'graduate' to commercial space. At their best,
incubators help new firms create jobs and revive
communities."
4. 4
DIFFERENCE BETWEEN INCUBATORS & ACCELERATORS:
People confuse between incubators and
accelerators but there is a clear difference:
● Incubators help in sprouting and
germination of start up ideas and thought
process.
● Accelerators help to accelerate the speed of
your business. They help you scale up, hone
an idea and build a product
5. 5
HOW DOES AN INCUBATOR ADD VALUE?
Strengths of incubators include the following
plus factors:
REDUCTION IN OPERATING COSTS:
● In an incubation environment the entire
overhead costs that include food, utilities,
office equipment, meeting rooms,
laboratories is shared by all.
● This allows the entrepreneur to take control
of his initial costs which otherwise can eat
into the profits and earnings in the beginning.
6. 6
HOW DOES AN INCUBATOR ADD VALUE?
CONSULTING AND ADMINISTRATIVE
SUPPORT:
● Incubator managers provide wonderful
insights and information on a broad
spectrum of business issues
● People involved in such programmes are
knowledgeable and experienced hence their
guidance is priceless to new business
owners.
7. 7
HOW DOES AN INCUBATOR ADD VALUE?
ACCESS TO CAPITAL
● Many incubators provide the business
owners an access to the easy-stage
capital which is a much required resource.
● Lending a hand at this stage of business
is sometimes important for the emerging
businesses.
8. 8
HOW DOES AN INCUBATOR ADD VALUE?
THE COMMUNITY FEELING:
● The gathering of entrepreneurs under a
common roof is a great feeling where they
grow together and provide encouragement to
each other
● Knowledge sharing, networking and providing
motivational support amongst fellow
entrepreneurs, are one of the many perks of
the incubation environment
9. 9
HOW TO CHOOSE AN INCUBATOR?
● RESEARCH & ANALYSIS:
Incubator programs when it comes to industry and
expertise required, services offered and the
mentoring that helps one sail across. Hence a
deep research and analysis while choosing your
mentor really helps.
● CHOOSE YOUR MENTOR WISELY:
Make a list of your business requirements,
strength, weakness and the kind of support you
would require. Accordingly, approach people and
see their capabilities which should align with your
needs.
10. 10
HOW TO CHOOSE AN INCUBATOR?
● BE CLEAR WITH YOUR IDEA:
Incubators are selective. They always hunt for a good concept
and innovative ideas. Your business idea and plan should be
viable enough to catch their attention and interest. A strong
team and a great track record is a plus point.
● NETWORK MATTERS:
In a startup environment, the network is gold and references
matter. A right connection can propel your entry into an
incubator.
Keep looking at people in your network. A founder who has
successfully been a part of an incubation management
process can be a blessing
11. REVA NEST : INCUBATION PROGRAM AT REVA
● Institute Innovation Council IIC MHRD ratings for the
year 2020. REVA NEST by REVA University stands
proud amongst the Top 5 Universities in South (SWRO
Zone) & attains 125th rank across India.
● REVA NEST collaborates with Cisco ‘thingQbator’
program a CSR initiative of Cisco in partnership with
NASSCOM Foundation to enable enterprising
students to work on their own innovative ideas and
build scalable solutions with financial support.
● Entered into the new sector of start-ups initiation in
the field of life sciences – REVA Bio Incubation Center
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12. REVA NEST : INCUBATION PROGRAM AT REVA
● REVA NEST awarded “start-up Project of the year”,
at Global education Skills MSME and
Entrepreneurship Summit Leadership Award 2020
● REVA NEST incubates raised 1Cr funds from K-tech
innovation Hub, Government of Karnataka,
Bangalore
● Alumni start-ups are encouraged and 20+ Startups
registered under the REVA NEST Technology
Business Incubation till now.
● Industry collaboration with LG Soft India Pvt Ltd for
the incubation program
● Came up with 20+ Innovative Prototypes during
lockdown period
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